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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: goldworldnet who wrote (10820)	11/14/2007 2:55:34 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 25737

Re: "We owe the debt collectively as a country, but that's different than owning the debt." How so 'different'? We can always default on the debt (default in one form or another). Whether 'default' like some Third World country by just flat-out refusing to pay... or else by deliberately inflating the currency (reducing it's value like the Wiemar Republic's money) so that the paper you pay with is worth much less. That seems to be the choice we have opted for (dollar down some 37% in value over the most recent five years), but it only works up to the point that the creditors catch on to the fact that they are losing. At that point (and it is on us now...) they either refuse to accept your script at most any price --- or else they demand to be paid much higher rates on the debt.